Ladbrokes Australia to Launch

Ladbrokes Australia to Launch
Ladbrokes has announced acquisition plans for Australian sports betting operator Gaming Investments Pty Ltd in a A$22.5 million deal that will be finalized this week. Gaming Investments includes Bookmaker.com.au Pty Ltd. The acquisition, expected to complete this week, will see Ladbrokes acquire GIPL under its newly formed Australian arm 'Ladbrokes Australia'. Regarding the acquisition, Richard Glynn, Ladbrokes' CEO, said: "The acquisition of this fast growing business represents an excellent opportunity for Ladbrokes to establish a strong presence in Australia, in line with our strategy to extend geographic reach to key regulated markets. At launch Ladbrokes Australia will have a highly experienced management team who are strongly incentivised to achieve further customer and revenue growth over the coming years." Glynn said Damian Cope, Ladbrokes international and group strategy director will head up Ladbrokes Australia. GIPL's operations will remain unchanged as will management.
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